More News, Rumors and Opinions Friday Afternoon 2-16-2024
KTFA:
Frank26: "THE EXCHANGE RATE OF THE IRAQI DINAR IS THE HOT TOPIC IN THE WORLD!!!"..........F26
Due to the rise in exchange rates...a parliamentary movement to speed up the approval of the “salary scale”
2/13/2024 - Baghdad
Independent MP Nazem Al-Shibli stressed today, Tuesday, the necessity of accelerating the approval of the new salary scale to address fluctuations in prices due to the continuous rise in the exchange rate of the dollar against the local currency.
Al-Shibli said in an interview followed by Al-Iqtisad News, “There is a parliamentary move to accelerate the completion and approval of the new salary scale to raise the salaries of those with lower grades, improve their living conditions, and confront fluctuations in market prices.”
He added, "The government must explain the steps it has taken regarding amending the salary scale for state employees, which will contribute to achieving social justice."
Al-Shibli pointed out that "there is a large disparity in salaries within the same category in state ministries, despite the similarity of working hours."
Most employees in state departments are still awaiting a decision from the government regarding the new salary scale, especially after many parliamentary requests to prepare the scale to achieve justice among employees in various ministries.
The Presidency's Media Department denied what was broadcast by one of the channels about President Abdel Latif Gamal Rachid submitting a request to visit America, describing the widespread information as "misleading", stressing that it has nothing to do with reality. LINK
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Frank26: "SUDANI WELCOMES THE WORLD FOR IRAQ'S ECONOMIC REFORM...AND THE WORLD IS POURING IN !!!"............F26
Clare: Minister of Commerce: International welcome and desire to increase investments in Iraq
2/15/2024 Cairo - INA - Rasha Muhammad,
Minister of Trade, Atheer Al-Ghurairi, revealed today, Thursday, a wide welcome and international desire to increase investments inside Iraq, while confirming the holding of meetings with 3 countries in this regard.
Al-Ghurairi said during his participation in the 113th session of the Economic and Social Council, which was held at the Arab League, in a speech followed by the Iraqi News Agency (INA):
“Iraq today seeks, within the government program of Prime Minister Muhammad Shia al-Sudani, to improve the investment environment and seeks to receive private sector companies with the aim of improving reality.” "The economic situation in Iraq and the announcement of the availability of great investment opportunities."
He added, "There are many important projects in Iraq, including the development road and the railway line between Holy Karbala and Najaf Al-Ashraf," noting "the necessity of encouraging investments from the private sector inside Iraq."
He added, "Iraq seeks to increase investment projects with Arab countries," noting, "There are major initiatives by Arab countries, and there was a great welcome from them to increase investments in Iraq and implement many economic agreements and conferences, and there are many protocols implemented with countries." The UAE, Qatar, and Egypt formed committees that included delegations from businessmen and the private sector inside Iraq, and we noticed a tangible change in the management of the economic file and the general economic policy of the Iraqi state.”
He pointed out, "The meeting came out with many decisions that were approved, including enhancing intra-trade, liberalizing trade in goods, and welcoming Iraq's accession to the World Trade Organization."
He stressed, "This is what Iraq aspires to, as its steps have begun to convey their messages to all countries, and the Iraqi economy will witness a significant recovery during the coming period in order to achieve common interests and achieve mutual benefit between Iraq and the Arab countries."
He pointed out that "there are rapid initiatives in infrastructure investment with the Egyptian, Qatari and Emirati sides through many agreements concluded during the previous period."
Calandlq: There have been many mic drops occur over the years, but this article is quite significant, not by itself, but merely one more proof positive that this thing is about to blow, IMO of course
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Al Suandi is on TV news Channel One saying the best and the only way to improve the electronic payment system is the CBI should remove the three zeros, print the new currency (lower denoms?) and give us a one month period to exchange our currency. This will show the power of the dinar over the dollar...He also said this will get rid of citizen holding cash and any smugglers and money laundering. FRANK: ...That's what they're about to introduce to you, your new exchange rate to match your lower notes...the lower notes will only work with a new exchange rate. I can't believe they keep saying this to you constantly every day...You are within arms reach...One month...I believe they'll give you longer than that. Outside with us it should also be a longer time to exchange...
Mnt Goat We are still waiting for the CBI’s measures to take hold to control the parallel market rate and then so they can go ahead and raise the program rate one more time, as I am told by my CBI contact is still going to happen...we must just sit tight and let them work through these issues of the parallel rate. The CBI will get it under control. As you know Iraq doesn’t work like Speedy Gonzalas...
Big Problems With The Big Banks | Francis Hunt
Liberty and Finance: 2-15-2024
While Fed chair Jerome Powell says the situation for the big banks is manageable, Francis Hunt believes otherwise. "All the true problems are truly with the big banks," he says.
He discusses the precious metals markets amid the recent pullback. Hunt sees further downside for gold in the short-term. But long-term, he is bullish on gold as well as other monetary alternatives like silver and Bitcoin.
INTERVIEW TIMELINE:
0:00 Intro
1:20 Banking system
3:30 Gold pullback
17:35 Silver update
20:45 Bitcoin update
30:25 Gold timeframes